KLCC Properties Holdings Bhd chalked up a higher pre-tax profit of RM184.45 million for the second quarter ended June 30, 2012 compared with RM148.41 million registered in the same period last year.
Revenue rose to RM288.61 million, during the period under review, from RM240.3 million recorded previously, it said in a statement.
"Revenue from property investment increased 21.5 per cent to RM126 million in the second quarter primarily due to the maiden recognition of rental revenue from Menara 3 Petronas and upward rent revisions in Menara Dayabumi and Menara ExxonMobil.
"This segment also benefited from lower finance cost due to the Midciti refinancing undertaken in October last year," it said.
However, KLCC Properties said this was partially offset by finance costs incurred on Menara 3 Petronas which was previously capitalised during the construction phase.
The company said the results for the remaining year would remain stable due to long-term office tenancies and expected improvement in retail occupancy.
"The hotel segment will continue to trade in a competitive environment," it added.
By Bernama
Monday, August 13, 2012
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